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Challenge Question Number 2 for Deputy Group Commander #1193Related Subject(s):Mathematics Business & Accounting Studies Related Soft Skill(s): Decision Making Reasoning Analyzing Information Reasoning Describe a typical "challenge" encountered in your work: The Supply Officer at any United Stated Coast Guard unit is responsible for making sure that all supplies to keep the unit running are purchased. Along with that, budgeting for the year is of utmost importance. Your fiscal year is broken down into four quarters, starting October 1st of each year. The 1st quarter is October through December; the 2nd quarter is January through March; the 3rd quarter is April through June and the 4th quarter is July through September. It will seem that there is never enough money to do all the extra things that need to be done, as well as keeping normal operations going. Keeping all of this in mind, how would you handle the following situations? Clearly describe what you expect from the students: 1.Your unit has an operating budget of $550,000 for the year. As the Budget Officer you must make sure this money is spent wisely. At the end of the 1st quarter of the year you must spend at least 25% of your funds; at the end of the 2nd quarter you must have spent at least 50% of your funds; and by the end of the 3rd quarter 70% of your funds must be spent. How much would have to be spent at the end of the 1st, 2nd, and 3rd quarters respectively?
2.Realizing that all of your funding must be accounted for properly, you wisely break down your funding accordingly. Your yearly fuel budget is $148,750, based on .85 cents per gallon, and 175,000 gallons of fuel to purchase for the year. During a recent fuel crisis, fuel prices increased to an average of $1.15 per gallon. How many gallons of fuel can you now purchase with $148,750?
3.With the deficit that you will have with your fuel problem, which of the following project(s) would you most likely delete from your list to compensate for your loss of fuel money? Remember that keeping your unit running is your number one concern.
A.Replacement of 4 year old carpet ($20,000) 4. One of your members is preparing to travel on behalf of the unit. The airfare from Quincy, IL to New Orleans, LA is $750 round trip. The member would prefer to drive his own car the 810 miles to New Orleans. The cost for him to drive is .31 per mile, plus two days travel. He can be paid for lodging for one night each way, with the cost of lodging is $75 per night. Which would be more economical for the government -- flying or driving? (HINT: Don't forget to calculate his mileage for a round trip). In order to give the teacher some guidance in evaluating the student's project(s); list some tips that may help to assess the student's work: 1.$137,500; $275,000; $385,000. 2. 129,347 3. Answers will vary. 4. To fly=$750; to drive = $652.20
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